Shares of eBay drop 9 percent after weak growth, lowered revenue forecast
https://www.cnbc.com/2018/07/19/ebay-stock-drops-after-weak-growth-lowered-revenue-forecast.html
Shares of eBay fell 9 percent in trading Thursday after the company reported sluggish growth in its marketplace business and lowered its revenue forecast for the the rest of the year.
The online marketplace reported second-quarter earnings of 53 cents per share, while revenue came in at $10 billion. While the earnings were 2 cents per share above what analysts surveyed by Thomson Reuters anticipated, eBay's revenue came in $50 million short of expectations. In addition, eBay adjusted its full year revenue forecast, lowering its estimate to a range of $10.75 billion to $10.85 billion from its previous estimate of $10.9 billion to $11.1 billion.